The Red Hot Chili Peppers reportedly sell songwriting catalogue for around R2 billion

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Red Hot Chili Peppers
Red Hot Chili Peppers
Photo: Michel Linssen/Redferns/Getty Images

The Red Hot Chili Peppers are the latest artists to sell their music catalogue for a handsome figure.

According to reports, the band is selling their songwriting catalogue to Hipgnosis for around $140 million (R2 billion), though the deal may not have closed just yet, Billboard writes.

The catalogue is likely to include hits like Californication, Otherside and Give It Away.

With band members Anthony Kiedis, Flea, John Frusciante, and Chad Smith having collectively written many of their songs, it is most likely that a majority of them would have needed to agree to the sale of their shares and rights for the deal to happen, says Billboard. 

The band now joins stars like Bob Dylan and Shakira, who have cashed in by selling their own catalogues in recent months. 

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